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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A salesperson is selling a leased commercial property. What will happen to the lease after the sale is consummated?

A) The new owner has the option of canceling the lease or accepting the lease.
B) The lease is assigned to the new owner.
C) The lease expires and the tenant must move.
D) The tenant and the new owner must negotiate a new lease.

2. If a salesperson or broker-salesperson maintains a webpage that is not linked to the webpage of their broker, the licensee's webpage must display the name of the broker as well as the

A) address of the branch office from which the licensee operates.
B) address of the broker's main office.
C) broker's email address.
D) broker's telephone number.

3. Which of the following best describes the Housing for Older Persons Act?

A) It allows grandparents with grandchildren to be exempt from the provisions of the Act.
B) It allows the awarding of monetary damages against those who believed that property designated as housing for older persons was exempt.
C) It requires that 55-and-older housing have significant facilities and services designed for seniors.
D) It requires that at least 80% of occupied units have one person age 55 or older living there.

4. A prospective buyer calls a licensed New Jersey salesperson to inquire about a property listed with that salesperson's brokerage. During the first substantive discussion about the property's price and terms, the salesperson must

A) wait until the buyer is ready to make an offer before presenting the CIS.
B) immediately provide the Consumer Information Statement (CIS).
C) only provide the CIS if the buyer asks for agency representation.
D) provide the CIS at closing when all agency relationships are finalized.

5. A licensee listed a house for $187,500, and a dual agency does not exist. A buyer is willing to offer $184,000.
The licensee explains that the seller will take no less than $186,500. The buyer agrees to offer $186,500. Did the licensee act properly?

A) Yes, because the licensee persuaded the buyer to raise the price $2,500.
B) No, the licensee should not have disclosed that the seller would accept less than the listing price.
C) Yes, to ensure acceptance of an offer, the licensee needed to disclose the lowest price the seller would accept.
D) No, the licensee should have accepted the first offer and persuaded the seller to accept it.

Solutions: